Applied Materials Climbs on Earnings News

The chip-equipment maker reported strong quarterly growth in revenues and profits

Computer chipmakers are notorious for rubbing their hands together with glee as they entertain unrealistic growth expectations -- only to over-invest and fall flat on their faces. While some analysts have been worrying about what happens to the industry in the coming months, Applied Materials (AMAT), which supplies equipment to those chipmakers, nonetheless managed to post a sharply stronger profit during the three months ended Jan. 29. After the news investors bought Applied Materials stock on Feb. 14.

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